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REGISTERED NUMBER: 03959570 (England and Wales)






Financial Statements

for the Year Ended 30 June 2023

for

ODYSSEY KNEBWORTH LIMITED

ODYSSEY KNEBWORTH LIMITED (REGISTERED NUMBER: 03959570)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ODYSSEY KNEBWORTH LIMITED

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P M Ward
S Aucott
Odyssey Group Holdings Limited





SECRETARY: RJP Secretaries Ltd





REGISTERED OFFICE: Old Knebworth Lane
Stevenage
SG2 8DU





REGISTERED NUMBER: 03959570 (England and Wales)





AUDITORS: Pembroke Briggs Chartered Accountants
1a The Quadrant Courtyard
Quadrant Way
Weybridge
Surrey
KT13 8DR

ODYSSEY KNEBWORTH LIMITED (REGISTERED NUMBER: 03959570)

Abridged Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,162,822 4,069,751

CURRENT ASSETS
Stocks 109,793 95,817
Debtors 138,061 524,920
Cash at bank and in hand 530,737 262,218
778,591 882,955
CREDITORS
Amounts falling due within one
year

966,488

781,406
NET CURRENT (LIABILITIES)/ASSETS (187,897 ) 101,549
TOTAL ASSETS LESS
CURRENT LIABILITIES

3,974,925

4,171,300

CREDITORS
Amounts falling due after more
than one year

-

120,486
NET ASSETS 3,974,925 4,050,814

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 5 1,971,182 1,971,182
Retained earnings 2,002,743 2,078,632
SHAREHOLDERS' FUNDS 3,974,925 4,050,814

ODYSSEY KNEBWORTH LIMITED (REGISTERED NUMBER: 03959570)

Abridged Balance Sheet - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





P M Ward - Director


ODYSSEY KNEBWORTH LIMITED (REGISTERED NUMBER: 03959570)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Odyssey Knebworth Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The whole of the turnover is attributable to health and fitness activities.

All turnover arose within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost
Plant and machinery - 6.67% on cost
Fixtures and fittings - Over period of lease
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ODYSSEY KNEBWORTH LIMITED (REGISTERED NUMBER: 03959570)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 77 (2022 - 65 ) .

ODYSSEY KNEBWORTH LIMITED (REGISTERED NUMBER: 03959570)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 7,878,383
Additions 356,537
At 30 June 2023 8,234,920
DEPRECIATION
At 1 July 2022 3,808,632
Charge for year 263,466
At 30 June 2023 4,072,098
NET BOOK VALUE
At 30 June 2023 4,162,822
At 30 June 2022 4,069,751

5. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 1,971,182

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S Briggs (Senior Statutory Auditor)
for and on behalf of Pembroke Briggs Chartered Accountants

7. OTHER FINANCIAL COMMITMENTS

The company has guaranteed the bank borrowings of its immediate parent undertaking; as at the balance sheet date, these amounted to £2.14 million (2021 - £2.14 million).

8. RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption available under FRS 102 not to provide details of related party transactions with its immediate parent undertaking.

ODYSSEY KNEBWORTH LIMITED (REGISTERED NUMBER: 03959570)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


9. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

Odyssey Group Holdings Limited is the company's immediate parent undertaking. The controlling party since September 2018 is Peter Ward. Before this date the ultimate parent undertaking was Jape Capital Limited acting as a nominee and there was no overall controlling party..